OMV And Eni Recognize Risk Of Ongoing Instability In Libya

Days after UK oil major BP and Canada’s Suncor followed France’s Total in impairing their Libya assets (MEES, 31 July), two other European oil companies have revealed that instability in the war-torn country is continuing to impact their business.

In its 2Q earnings report, OMV revealed that a drop in Libya output was behind an overall decline in the firm’s production over the period. Both OMV and Italy’s Eni, which published its interim consolidated 2H 2015 report in early August, said that ongoing troubles in the country pose a risk to their business in the country in the longer term. (CONTINUED - 1329 WORDS)